51 Western Road & 25 Clarence Square
Brighton
East Sussex
BN1 2EB

Freehold Retail and Residential Investment

  • Shop Let to Greggs Plc until 2026 (No breaks)
  • Greggs in have been occupation for 15 years
  • Includes two self contained flats with entrance on attractive Clarence Square
  • February 2021 Tenant option to determine NOT exercised
  • Potential to develop further Residential (Subject to consents)
  • Opposite substantial Primark Store
  • Lot
    10
  • Auction
    04/Nov/2021
  • Rent
    £65,300 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 51 Western Road & 25 Clarence Square, Brighton, East Sussex, BN1 2EB
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
12 miles east of Worthing
21 miles west of Eastbourne
54 miles south of Central London
Roads
A23, A27, A270, M23 (Junction 1)
Rail
Brighton Railway Station
(55 mins to London Victoria)
Air
London Gatwick Airport
Situation

The property is situated in a prominent position on the south side of Western Road, opposite substantial Primark store, approximately 100 metres from The Churchill Square Shopping Centre, which houses occupiers including McDonalds, Costa Coffee, H&M, Debenhams, Zara and Apple Store. Other neighbouring occupiers include Argos, KFC, Poundland, Vodafone, Halifax and TSB Bank.

Tenure

Freehold.

Description

The property comprises a substantial building with retail accommodation on the ground floor and ancillary accommodation in the basement, a 2 bed maisonette on part first and second floor and a studio apartment on part first floor fronting the attractive Clarence Square. The property benefits from being double fronted with the residential entrance from the Clarence square with attractive central gardens. The property may benefit from further residential accommodation with the addition of further floors (subject to consents).

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

See legal pack

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(Reversion)
Ground
Basement
Retail
Ancillary
73.20 sq m
42.00 sq m
(788 sq ft)
(452 sq ft)
GREGGS PLC t/a
Greggs (1)
10 years from
05/02/2016
£39,50005/02/2021
(04/02/2026)
First and Part
Second
Residential
2 Bedroom Maisonette
INDIVIDUAL6 month Assured
Shorthold Tenancy
from 05/08/2021
£16,200
(2)
(04/02/2022)
Part Second
Floor
Residential
Studio Apartment
INDIVIDUAL1 year Assured
Shorthold Tenancy
from 28/10/2021
£9,600(27/10/2022)
Total Commercial FloorArea
115.20 sq m
(1,240 sq ft)
  £65,300 

(1) For the year ending 2nd January 2021, Greggs Plc reported a turnover of £811,300,000, a pre-tax profit of negative £13,700,000 and shareholders funds of £321,600,000 (NorthRow 07/10/2021).
(2) The rent reserved under the Assured Shorthold Tenancy is £1,350 per calendar month. The rent shown above has been annualised.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    912 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
TWM Solicitors LLP 123, High Street Epsom
Surrey
KT19 8AV
Anne Fowler 01372 731 178anne.fowler@twmsolicitors.com

Useful Links

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